Solar Panel Cost Guide in Lebanon, NH (2023 Update)
- Lebanon Solar Installation Cost: $10,511
- 25-Year Savings: $16,889
- Payback Period: 9.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Lebanon
Let's have a look at the average cost of solar panels in Lebanon.
Although the national average of solar panels is $2.66 per watt, solar panels in Lebanon generally cost about 2.91. The average solar panel system size in Lebanon is around 5.2 kilowatts, meaning a cost of about $10,511 for a solar installation, or $15,031 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The exact cost of making the switch to solar can vary based on multiple factors, such as how many panels you need, your energy usage and what company you go with. But, after you've paid the initial cost of installation, the return on investment for most homeowners is usually rewarding, with a net average savings of about $20,000 over 20 years on energy bills.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Lebanon
| Year | Return on Investment |
|---|---|
| 1 years | $-9,415 |
| 3 years | $-7,223 |
| 5 years | $-5,031 |
| 7 years | $-2,839 |
| 9 years | $-647 |
| 11 years | $1,545 |
| 13 years | $3,737 |
| 15 years | $5,929 |
| 17 years | $8,121 |
| 19 years | $10,313 |
| 21 years | $12,505 |
| 23 years | $14,697 |
| 25 years | $16,889 |
Top Solar Installers in Lebanon
Although it's possible to install solar panels on your own, it involves extra labor and handiness. For that reason, most homeowners choose to go with a solar panel installer. Plus, if you're not certain what kind of solar panels and equipment you need, a solar company can help you figure that out after a site survey and consultation.
Working with a professional solar installer can make going solar easier. Here are our recommendations:
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Lebanon
Factors that Affect Solar Panel Costs in Lebanon
The cost of installing a solar system in Lebanon can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,910. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Lebanon, where sunlight isn't as abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are available from most installers in Lebanon, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panels can affect the cost. Lebanon's solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.03 | $12,711 | $19,130 | 10.0 years |
| 8 kW | $2.97 | $16,622 | $25,832 | 9.8 years |
| 10 kW | $2.91 | $20,370 | $32,697 | 9.6 years |
| 12 kW | $2.85 | $23,955 | $39,726 | 9.4 years |
| 14 kW | $2.79 | $27,377 | $46,917 | 9.2 years |
| 16 kW | $2.74 | $30,636 | $54,271 | 9.0 years |
| 18 kW | $2.68 | $33,733 | $61,789 | 8.8 years |
| 20 kW | $2.62 | $36,666 | $69,469 | 8.6 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be a challenge, we have some tips to help you, such as:
- Warranty: A comprehensive, 25-year warranty can help keep your solar system running for a long time and save you money on repairs and maintenance.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
- Contract: Read the contract terms closely to make sure you understand the total cost, project timeline incentives and warranties.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the completion timeline.
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Lebanon, NH Solar Cost FAQs
What is the average cost of installing solar panels in Lebanon?
This is a hard question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $14,550 for a 5-kW system and $29,100 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Are solar panels free in Lebanon?
You can't get solar panels for free in Lebanon. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
Do solar panels increase your property value?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.